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Nov 22, 2012
11/12
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we think it is a reasonable and bipartisan effort now that the election is over. melissa: so you think he's your only go here? >> well, yes, we think that his efforts could make a huge difference. we were awarded this back in march of 2010. president obama awarded this to virginia, and unfortunately after the vp bill in april, our sale was initially postponed. then it was eventually canceled. what we are trying to do is reinstate the sale. melissa: how much oil are we talking about here, what with the estimates? what would it mean for you? >> well, the estimates, which are actually 30 years old, they were done 30 years ago. estimating 3.3 billion barrels of oil and over 31 trillion cubic feet of gas off of virginia. typically, these estimates are overproduce when they are actually developed. we think there is a substantial amount out there, and according to estimates, 31,000 jobs could be created by exploring that area. we think it's good for the economy. it's good for tax revenue. it is something that the president could do. >> i have followed this industry for a
we think it is a reasonable and bipartisan effort now that the election is over. melissa: so you think he's your only go here? >> well, yes, we think that his efforts could make a huge difference. we were awarded this back in march of 2010. president obama awarded this to virginia, and unfortunately after the vp bill in april, our sale was initially postponed. then it was eventually canceled. what we are trying to do is reinstate the sale. melissa: how much oil are we talking about here,...
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Nov 21, 2012
11/12
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CNBC
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paul bremer turned over authority to the interim iraqi government, which would run the country until elections could be held. [gunfire] >> the insurgency was already gaining momentum. and with the, then newly constituted iraqi army riding into battle in unarmored pickup trucks, and scrounging for guns and ammunition, the iraqi defense ministry went on a billion dollar buying spree with almost no oversight. the contracts were paid in advance with no guarantees, and most of them involved a single company. >> there were awarded without any bidding to a company that was established a few months prior with a total capital of $2,000. so you had nearly a billion dollars worth of contracts awarded to a company that was just a paper company whose directors had nothing to do with the ministry of defense or the government of iraq. >> the name of that company was alain al jaria, which in arabic means the ever-flowing spring. it's address, here in amman, jordan was a post office box. it's telephone number, a mobile phone. the principal was a mysterious iraqi by the name of naer jumaili. and a half a billio
paul bremer turned over authority to the interim iraqi government, which would run the country until elections could be held. [gunfire] >> the insurgency was already gaining momentum. and with the, then newly constituted iraqi army riding into battle in unarmored pickup trucks, and scrounging for guns and ammunition, the iraqi defense ministry went on a billion dollar buying spree with almost no oversight. the contracts were paid in advance with no guarantees, and most of them involved a...
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Nov 29, 2012
11/12
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KGO
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the mitt romney that e he was against during the election. and you thought you had an awkward meal with your family on thanksgiving. they are eating at the white house. mi mitt, this could have been your private dining room, these could have been your presidential knives and forks. after the president won re-election, he said he wanted to meet with mr. romney because he believes he has ideas that can be very helpful. it's a nice gesture, considering the fact that he hasn't let joe biden have lunch with him even once. here's what i don't get. for the last eight months, mitt romney has been saying nobody should get a free lunch. now, he's going to the white house to have a free lunch. the -- you know, it doesn't make sense. the holiday season officially kicked off in new york city tonight with the lighting of the tree, the big christmas tree. the tree lighting ceremony aired on nbc. only nbc would make a television event out of plugging something in. people came from as far away as japan to see the tree lighting. came from staten island to see
the mitt romney that e he was against during the election. and you thought you had an awkward meal with your family on thanksgiving. they are eating at the white house. mi mitt, this could have been your private dining room, these could have been your presidential knives and forks. after the president won re-election, he said he wanted to meet with mr. romney because he believes he has ideas that can be very helpful. it's a nice gesture, considering the fact that he hasn't let joe biden have...
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Nov 23, 2012
11/12
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CNBC
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obviously you weren't a big fan of the way the election turned out. i like being a strict constitutionalist, and i like article i, section 8. are we ever going to get back to those types of disciplines, or as in your article stated, you think we crossed over and there's no turning back? >> no, we passed the tipping point. i don't think there's any doubt we reached the tipping point. we've reached that era where our foundest most feared where a majority of people could voice themselves a living at the spend of the minority. i don't think there's any coming back. i think we are on the same trajectory as europe, and europe is on the same trajectory as greece, so it's time to look for yourself and families to take care of your personal prone. we cannot solve the country's problems. >> i hope you are not kreb8g9, but we'll have you back to talk about the journey. sully, it's all yours. >> thank you. >>> rick and bill, thank you. i like bill. he's a smart guy. >> good conversation. >>> coming up next, protesters at walmart. we have live at the scene. 6 try
obviously you weren't a big fan of the way the election turned out. i like being a strict constitutionalist, and i like article i, section 8. are we ever going to get back to those types of disciplines, or as in your article stated, you think we crossed over and there's no turning back? >> no, we passed the tipping point. i don't think there's any doubt we reached the tipping point. we've reached that era where our foundest most feared where a majority of people could voice themselves a...
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160
Nov 28, 2012
11/12
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CNBC
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>> that's what washington leaders are elected to do, to lead and govern. i think that's why the private sector is speaking out this way, because this is an issue that we have to educate the public, and we have to press our leaders to address. >> we had a representative on yesterday, democratic representative. he didn't even want to talk about means testing medicare or social security. very focused on raising taxes on the rich. if you have a millionaire or billionaire elderly person, and you tell them, guess what, you're going to have to pay more for your health care, that would be like raising their taxes, right? and it would help reduce the problem. but they don't want to talk about that. >> the easiest solution's in front of us. i'm not the expert on medicare or social security. means testing and raising age limits seem to me to be pretty practical solutions as part of the solution, not the total solution, to reducing entitlement spending. >> if you were this the white house today with with the president as many of the nation's leading ceos are, what wou
>> that's what washington leaders are elected to do, to lead and govern. i think that's why the private sector is speaking out this way, because this is an issue that we have to educate the public, and we have to press our leaders to address. >> we had a representative on yesterday, democratic representative. he didn't even want to talk about means testing medicare or social security. very focused on raising taxes on the rich. if you have a millionaire or billionaire elderly person,...
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Nov 23, 2012
11/12
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>> the same composition of congress existed before the election is what we have after the election. nothing happened before then. i'm just repeating what lawmakers said. chris van howen, representative out of maryland, said if nothing is done before they go on summer recess, you have to suspect nothing can get done by the end of the year. everybody is concentrating on this december 31st deadline. actually december 14th is the final day for congress. they can work through the holidays to try to get this deal done. we're looking at $600 billion according to the cbo and if you really want to look at all of 2013, you are looking at $800 billion to $900 billion. it is hard to imagine they could come to terms with everything that needs to be taken care of in just a few weeks from now. >> what happens to the markets if we miss that deadline, todd? >> they're going lower. look at federal spending. >> how much lower? >> at least 10%. this country's destined for a recession as it is. now if you take a look at the fiscal cliff mess, plus you look at spending cuts on the government's side, that
>> the same composition of congress existed before the election is what we have after the election. nothing happened before then. i'm just repeating what lawmakers said. chris van howen, representative out of maryland, said if nothing is done before they go on summer recess, you have to suspect nothing can get done by the end of the year. everybody is concentrating on this december 31st deadline. actually december 14th is the final day for congress. they can work through the holidays to...
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Nov 26, 2012
11/12
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FBC
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we have burned up three weeks since the election. but only have five more to go, are we going to make it? >> that is the great untold story, there's not that much time after the election to get thanksgiving and christmas. we did not meet a goal after the election, finally had a meeting later in the week down in the white house with the congressional leaders, john boehner, harry reid, mitch mcconnell, and out for thanksgiving solely today are people trying to get back starting to draw the battle lines a little bit. we seem to have burned three weeks which is time is of the essence. david: i'm thinking three years ago obamacare on christmas eve, will it come down to that? >> maybe new year's eve january january 1, mandattry spending cuts kick in on the second of january. you hit on a very important point. congress only ask when there is the gamut swinging over their heads. they often do this around christmas time. it is the final train leaving the station. finishing the christmas shopping and people start to get itchy, i compare it to
we have burned up three weeks since the election. but only have five more to go, are we going to make it? >> that is the great untold story, there's not that much time after the election to get thanksgiving and christmas. we did not meet a goal after the election, finally had a meeting later in the week down in the white house with the congressional leaders, john boehner, harry reid, mitch mcconnell, and out for thanksgiving solely today are people trying to get back starting to draw the...
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Nov 27, 2012
11/12
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the political reason is we had an election. the american people decided tax rates were going to go up for the top 2% of income earners. the republicans tried the alternative approach, they didn't win. move on. the fife is off -- the philosophical approach, we tried under the bush economy and it didn't help. >> sure it did. >> every single republican under the clinton administration, the economy took off and created 22 million new jobs. don't tell me tax increases will ruin the economy. warren buffett wrote an op-ed, it's a lame outdated discredited argument from the gop. stop repeating the talking points. >> larry elder, i'll give you the last word. >> may i respond. the clinton income tax hikes underproduced revenue based upon their projections. they got in less money than they thought. when clinton lowered capital gains they got in far more revenue than they thought. cutting taxes is expansionary and raising taxes is contractionary. >> this discussion still comes down to spending. >>> a man in washington who has never wavered
the political reason is we had an election. the american people decided tax rates were going to go up for the top 2% of income earners. the republicans tried the alternative approach, they didn't win. move on. the fife is off -- the philosophical approach, we tried under the bush economy and it didn't help. >> sure it did. >> every single republican under the clinton administration, the economy took off and created 22 million new jobs. don't tell me tax increases will ruin the...
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Nov 27, 2012
11/12
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and christie is getting his re-election campaign ramped up. he has unprecedentedly high approval rating. >> after sandy. and he says this is a job he feels leak he needs to continue. >> stanley wants him to stay. some other corporate news involving erickson. it's filed a lawsuit against samsung alleging patent infringement. ericcson says two years to trike a deal were unsuccessful. and an hp shareholder filed a lawsuit alleging the tech company's top executives misled investors about two key acquisitions that have caused billions of dollars in losses. the lawsuit alleges that hp management concealed the problems and another recent acquisition which we've talked about, electronic data, in an attempt to boost hp stock price. meantime in the "wall street journal," former employees, business partners and attorney attorneys say it's not difficult to conclude that the company autonomy's accounting was overly aggressive, they say such behavior tip filed autonomy long before hp bought it. and mike lynch says the company's culture was aggressive. >> th
and christie is getting his re-election campaign ramped up. he has unprecedentedly high approval rating. >> after sandy. and he says this is a job he feels leak he needs to continue. >> stanley wants him to stay. some other corporate news involving erickson. it's filed a lawsuit against samsung alleging patent infringement. ericcson says two years to trike a deal were unsuccessful. and an hp shareholder filed a lawsuit alleging the tech company's top executives misled investors...
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Nov 26, 2012
11/12
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romney was going to win the election. i have been wrong in the past and i can be wrong again. >> that is a big man to admit that. i am interested in how you are trading this. last week we had the embassies up 3% to 4%. is the optimism to get a deal done priced in? >> there is a good deal priced in. i was impressed the market came off of the bottom as far as it did. monday of last week we ran up against the trend line. we shouldn't be surprised by correction. if we can hold here for another day or two my guess is we go higher in equities. that is what a resolution will be strong for the equities market. some will say it will be bearish for the bond market. a lot of my friends have tried to sell the bond market short for three years and it has never worked. it will be supportive for equities. it is probably also supportive for raw materials, copper may be something to take a look at. >> take a look, then. good to see you on cnbc. >>> sometimes our traders hit it right out of the park and sometimes they swing and miss. let's
romney was going to win the election. i have been wrong in the past and i can be wrong again. >> that is a big man to admit that. i am interested in how you are trading this. last week we had the embassies up 3% to 4%. is the optimism to get a deal done priced in? >> there is a good deal priced in. i was impressed the market came off of the bottom as far as it did. monday of last week we ran up against the trend line. we shouldn't be surprised by correction. if we can hold here for...
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Nov 28, 2012
11/12
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CNNW
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remember back on election night the president talked about looking forward to sitting down with governor romney to talk about ways to move the country forward. this after a very tough campaign where either during the debates or out there on the campaign trail each of the candidates have had very strong words about each other's vision for the country. the president was asked about when he would be meeting with mitt romney during his news conference following the election. he said that he looked forward to sitting down and meeting with him, said there are some good ideas, some things of his record that he would like to talk to him about. when he was pressed on that the president said that he thought that mitt romney did a good job in turning the olympics around and he thought that could apply to the federal government to make it more efficient, to make it more customer friendly. people friendly. and so we expect that some of that will be part of the discussions when the president sits down with mitt romney here at the white house tomorrow. i think the timing of this is also quite interesti
remember back on election night the president talked about looking forward to sitting down with governor romney to talk about ways to move the country forward. this after a very tough campaign where either during the debates or out there on the campaign trail each of the candidates have had very strong words about each other's vision for the country. the president was asked about when he would be meeting with mitt romney during his news conference following the election. he said that he looked...
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Nov 21, 2012
11/12
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FBC
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eye 86
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beyond june 38 because there is no election next year. gerri: college tax credit, any change? >> well, the american opportunity tax credit will expire at the end of 2012 if it is not extended we refer to the hope scholarship tax credit which means from $2,500 a year to 1800, maybe $1,900 a year and only two years to four. gerri: thank you for coming on. an absolute pleasure to have you. this is something that no one thought about what the fiscal cliff. so worried about other stuff, taxes, defense dollars. >> thank you for having me. gerri: a warning for online investors. they may have a cute baby spokesperson, but e-trade and others like it may be charging you didn't these. the results of an important new study next. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. ce to the winteevent and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer lease a 2013 glk350 for $399 a mon
beyond june 38 because there is no election next year. gerri: college tax credit, any change? >> well, the american opportunity tax credit will expire at the end of 2012 if it is not extended we refer to the hope scholarship tax credit which means from $2,500 a year to 1800, maybe $1,900 a year and only two years to four. gerri: thank you for coming on. an absolute pleasure to have you. this is something that no one thought about what the fiscal cliff. so worried about other stuff, taxes,...
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Nov 28, 2012
11/12
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CNBC
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>> look, i have voted for all of the above and i did it when i was running for re-election. it wasn't a political thing with me. i believe deeply that we got to get the country back on track. we're borrowing 31 cents of every dollar that we spend. clearly that's not sustainable. we know that our debt is now over 100% of our gross domestic product and headed higher. so we know steps have to be taken. the fastest growing part of federal spending are the health care accounts. we're spending 1 in every $6 in this economy on health care. >> the specific way to cut that, what is it? >> my number one recommendation -- >> yeah. >> -- would be better coordination of care for the chronically ill. 5% of medicare beneficiaries -- 5% -- use 50% of the money. >> mostly end of life care. right. >> a lot of it end of life care but a lot of it is not end of life care. it is for the chronically ill. people with multiple serious conditions. we do a very poor job of coordinating the care for those people. as a result, a lot of money is wasted. >> one final question quickly on farm subsidies. wh
>> look, i have voted for all of the above and i did it when i was running for re-election. it wasn't a political thing with me. i believe deeply that we got to get the country back on track. we're borrowing 31 cents of every dollar that we spend. clearly that's not sustainable. we know that our debt is now over 100% of our gross domestic product and headed higher. so we know steps have to be taken. the fastest growing part of federal spending are the health care accounts. we're spending...
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Nov 29, 2012
11/12
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CNBC
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plus we had the election and fiscal cliff oncoming. with that, we still got over 2% growth. so even with some kind of drag from higher taxes and spending into next year, without a lot of those -- those severe head winds, you know, i just don't see how with a global -- coordinated global monetary easing policy from the central banks, how you're going to have a worser economy next year and therefore lower profits. >> joe? or josh? >> hi, tony. josh brown. i'm just curious, if you took a look at that gdp third quarter revision from this morning, one of the things i think jumped out most is that really all of the improvement comes as a result of both federal spending and then the other thing -- then the other thing that people don't want to see which is a lot of inventory restocking which i understand is seasonal. but now that's on the backs of the consumers, actually, taking those products out of stores to their homes. are we really going to be able to say that that was a good upward revision? even though the number went up? >> no. frankly, the market would have already priced
plus we had the election and fiscal cliff oncoming. with that, we still got over 2% growth. so even with some kind of drag from higher taxes and spending into next year, without a lot of those -- those severe head winds, you know, i just don't see how with a global -- coordinated global monetary easing policy from the central banks, how you're going to have a worser economy next year and therefore lower profits. >> joe? or josh? >> hi, tony. josh brown. i'm just curious, if you took...
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150
Nov 26, 2012
11/12
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CNBC
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i was just elected. i made aware the only thing i'm honoring is the oath i take when i'm sworn in this january. >> both of these senators are saying they aren't going to be browned by grover norquist from americans for tax reform. this is an issue bigger than norquist. the republican party has positioned itself as the smaller government, anti-tax party. but they've lost an election and it appears that republicans in the senate will see about the house, already to give some ground. >> john, thank you. that's good news. looks like at least some may be ready to rise above the partisan rhetoric. we'll find out. >>> welcome back here. again if you are just joining us, we're at the lincoln financial field in philly, the third best city in the stock market in the last year. another guy that has a brand-new job but is well known to cnbc viewers, bob doll. he's just been announced as chief equity strategist for nuvene asset management. and ken volpert of vanguard based pretty darn close. bob, this is your first i
i was just elected. i made aware the only thing i'm honoring is the oath i take when i'm sworn in this january. >> both of these senators are saying they aren't going to be browned by grover norquist from americans for tax reform. this is an issue bigger than norquist. the republican party has positioned itself as the smaller government, anti-tax party. but they've lost an election and it appears that republicans in the senate will see about the house, already to give some ground....
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Nov 27, 2012
11/12
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FOXNEWSW
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even if an election is on the line. even if everybody is watching, even if it's not behind closed doors. once again, i think at the end of the day, the american people are going to get the short end of this stick because they won't see what the negotiations really were. and they'll be told on christmas eve oh, all parties have come together of the we'll have a foe foe op and we're all supposed to be happy and i would say we should look very carefully about the republican who are willing to cave on first principles without having a single sub tantive discussion on what's really on the line. i find it appalling. >> brian: you know what i find different this time? in the "new york times," they list all the democrats who have no interest in revamping any entitlements. >> of course not. not why should they? >> brian: by the way, i'm noticing what's coming up. i'm just wondering, is this the first time the president could be running into head winds with his own party? could they be to the left of the president? >> well, i moo
even if an election is on the line. even if everybody is watching, even if it's not behind closed doors. once again, i think at the end of the day, the american people are going to get the short end of this stick because they won't see what the negotiations really were. and they'll be told on christmas eve oh, all parties have come together of the we'll have a foe foe op and we're all supposed to be happy and i would say we should look very carefully about the republican who are willing to cave...
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Nov 23, 2012
11/12
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FBC
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eye 114
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i don't think it ends up deciding the election. lots of other things that ended up, but there is no question that having chris christie give president obama that figurative and literal embrace of the national stage a week before the election when he was the keynote speaker at the republican convention was held to the president's. >> and the your out of time. of all was right on the issue according to the poll and is supported his position. lou: we will take note of two things. your candid one. your former boss played a big part. we would both agree that governor christie probably should have been telling you know, a conference call to the both of t joins us. don't you love it? a lame duck session of congres they're the ones who have to ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. and waiting in
i don't think it ends up deciding the election. lots of other things that ended up, but there is no question that having chris christie give president obama that figurative and literal embrace of the national stage a week before the election when he was the keynote speaker at the republican convention was held to the president's. >> and the your out of time. of all was right on the issue according to the poll and is supported his position. lou: we will take note of two things. your candid...
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Nov 28, 2012
11/12
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FOXNEWSW
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instid of members that we elect to congress to get things done for us. they can't sit in the room for a photoop and now back out on the campaign trial and people making youtube videos about what they think about the fiscal cliff. that's what the administration is asking people to do to convince members of congress to vote. what about saving that time and actually doing the job we elected you to do to sit in the room and get something done. >> steve: according to the president's side. he learned a valuable lesson in the summer of 2011 when they tried to get a grand bargain with john boehner. he will negotiate with the congress. we'll go out campaign style. it never ends . gretch mentioned twitter, they have launchhed a hash tag my 2 k to get people to explain how it impacts them. it is turning out to be a dud. >> brian: two things to be noted. dick durbin gave the encouraging quote. everything should be on the table. we have to get ourselves out of i had to read it three times because he is number two ranking democrat. and i read behind the scenes, it is
instid of members that we elect to congress to get things done for us. they can't sit in the room for a photoop and now back out on the campaign trial and people making youtube videos about what they think about the fiscal cliff. that's what the administration is asking people to do to convince members of congress to vote. what about saving that time and actually doing the job we elected you to do to sit in the room and get something done. >> steve: according to the president's side. he...
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Nov 29, 2012
11/12
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CNBC
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. >> reporter: he's been elected county commissioner and he owns a famous brothel. the mustang ranch. you have to be the most diversified businessman in america. wouldn't you say? >> i have a diversified portfolio. >> reporter: gillman is a republican in a state represented by one of america's most powerful democrats, harry reid. >> he's been a friend to the state of nevada. so certainly i supported his campaigns. >> reporter: but he doesn't agree with reid on everything and he's worried about the fiscal cliff in a region recovering more slowly than the rest of the nation. >> to me, our world is tied to confidence. confidence in our leaders, confidence in washington. confidence in taxes. trying to figure out what's going to happen with all the health care. and we are absolutely crushed with regulation. this is where the buck stops. all of the rules that are made back there. all the regulations that are made back there. all the financial decisions, they all flow right down here to where you and i are standing. and if companies aren't calling and if they aren't expand
. >> reporter: he's been elected county commissioner and he owns a famous brothel. the mustang ranch. you have to be the most diversified businessman in america. wouldn't you say? >> i have a diversified portfolio. >> reporter: gillman is a republican in a state represented by one of america's most powerful democrats, harry reid. >> he's been a friend to the state of nevada. so certainly i supported his campaigns. >> reporter: but he doesn't agree with reid on...
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Nov 27, 2012
11/12
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FBC
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i know a close election, but, it is not as if they were just wiped off the face of the earth? what are they doing? >> i think there are a couple things here, dan and i were talking, if they go ahead, and go along with this, then they are setting a tone and putting themselves at risk for midterm elections, they can't afford to lose at this pointolitically. but i think they know, that if theyment long-term tax solutions, a simplification of the tax code if that i want to talk about entitlement reform they have to concede a bit. i think one thing that could help both sides if we had a well the more transparency in this conversation so it is not just republicans that are strong armed here. neil: you know, dan, you are closer to this than i will be, but i have to say between this concession of republicans to entertain what cou be more substantial revenue hikes, so say nothing now of embracing the idea of suzanne rice -- susan rice hearing on the benghazi thing on capitol hill, now all of a sudden, she is not a fool, there is something weird going on, i see them folding on one issue
i know a close election, but, it is not as if they were just wiped off the face of the earth? what are they doing? >> i think there are a couple things here, dan and i were talking, if they go ahead, and go along with this, then they are setting a tone and putting themselves at risk for midterm elections, they can't afford to lose at this pointolitically. but i think they know, that if theyment long-term tax solutions, a simplification of the tax code if that i want to talk about...
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Nov 28, 2012
11/12
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remember a couple things, first he just won the election. second of all, his position on raising taxes on top earners is very popular in the country, well over 60% of the american people say they want that to happen. you've begun to hear some republicans say they ought to do what the president just asked for. tom cole, a conservative congressman from oklahoma, former executive director of the republican national committee. he said yesterday republicans should just take the deal the president is proposing on the 98%, extend those tax cuts, and then fight over the contours of a tax increase for the top 2%. that is an indication that the republican position is weakening and the president's trying to push that ball down the field a bit further and caught it to weaken further. >>> what's the substance of what you think will take place later in the white house, including lloyd blankfein. >> reporter: i think what he's trying to do -- scott, can you still hear me? >> reporter: i don't know if you can hear me, but i'll say what i think the president
remember a couple things, first he just won the election. second of all, his position on raising taxes on top earners is very popular in the country, well over 60% of the american people say they want that to happen. you've begun to hear some republicans say they ought to do what the president just asked for. tom cole, a conservative congressman from oklahoma, former executive director of the republican national committee. he said yesterday republicans should just take the deal the president is...
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Nov 27, 2012
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we as the american public are fools if we would elect, re-elect anybody that sat there and watched this thing go over the cliff. the bigger issue, we are in a slow growth/no growth economy, even after we solve that what are we going to do too move this economy forward? >> what are you advising your clients to do with their money? >> one, a little bit on the conservative side, a normal account would be 50% stocks, 50% bonds, we may be about 40/60, i'm very concerned about the bond market at this point over time. >> treasury, corporates. >> wither in corps pratt, also in some alternative oriented things. secondly, i think we are in a market it makes sense to produce income. if the dow at 13, 14,000 now and 13, 14,000 in three years which could be the situation in a muddling along economy what interest in dividends you produced that period of time. if you believe this isn't going to be a high-growth economy, it leads to you producing it quickly and evenly. >> we got to get to eamonoffers in d.c. the higher tax rate you. >> where are you going to go? >> the dividends is misplaced because yo
we as the american public are fools if we would elect, re-elect anybody that sat there and watched this thing go over the cliff. the bigger issue, we are in a slow growth/no growth economy, even after we solve that what are we going to do too move this economy forward? >> what are you advising your clients to do with their money? >> one, a little bit on the conservative side, a normal account would be 50% stocks, 50% bonds, we may be about 40/60, i'm very concerned about the bond...
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Nov 29, 2012
11/12
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that was his first executive order when he was elected president. he said he would close gitmo. it is still open. abbas's turn to ask for palestinian statehood. expected to get his wish . he wants palestine to be updated to a nan member observer state. it would provide international recognition for palestinian control over areas that israel captured in the six-day war. >> said many times that the path to a two-state solutionn that fulfilled the aspirerationn of the palestinian people is through jers lemm and ramallah and not new york. >> israel is saying it will not return to negotiations after the vote. >> brandd new details lurking in the train crash that kill would four wounded warriors. the railroad crossing only gave a 20 second warning that the train was coming. it is supposed to be 30 seconds. and the driver of the truck entered one second after the crossing guards began to lower. >> you are about to see a photothat turns a police officer in a hero now. he saw a homeless man in times square and had no shoes on his feet. he went to a scretcher's store and bought a pair of
that was his first executive order when he was elected president. he said he would close gitmo. it is still open. abbas's turn to ask for palestinian statehood. expected to get his wish . he wants palestine to be updated to a nan member observer state. it would provide international recognition for palestinian control over areas that israel captured in the six-day war. >> said many times that the path to a two-state solutionn that fulfilled the aspirerationn of the palestinian people is...
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Nov 21, 2012
11/12
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and then the election, they still didn't want to do anything. resolving the fiscal cliff will not make them feel any better because the resolution will be higher taxes. >> absolutely. and that is where businesses throw out, chamber of commerce, is ask why they are not doing something, it is uncertainty. they ar paid to manage in uncertainty. there's just a lot of nonsense. the economy is not moving along very well. the discussions will not resolve the fundamental problem from exploding entitlements and mammoth increase in spending imposed on america and now want americans to validate, that is why they are not investing. melissa: it is so true. a timed everybody blamed the weather. unseasonably cold or hot. this all makes me pretty depressed and makes me feel like the economy will not get better anytime soon. >> by reelecting barack obama, he will not create jobs for them. we have seen for years worth of his tricks, and what have you dy talk about doing besides raising taxes. more jobs creation programs. it seems like stimulus. why would $1 trill
and then the election, they still didn't want to do anything. resolving the fiscal cliff will not make them feel any better because the resolution will be higher taxes. >> absolutely. and that is where businesses throw out, chamber of commerce, is ask why they are not doing something, it is uncertainty. they ar paid to manage in uncertainty. there's just a lot of nonsense. the economy is not moving along very well. the discussions will not resolve the fundamental problem from exploding...
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Nov 27, 2012
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ever since the election it has pulled back along with the rest of the market to the point where it's now almost back to where it was before the announcement. it's time to buy, people. bottom line, you want a real cyber monday deal, go buy yourself -- >> buy, buy, buy. >> -- some federal express. robert in illinois. robert? yo, robert? >> caller: praying for the eagles tonight. >> yeah. we need divine intervention. good you pointed that out. what's up? >> caller: electronic gear this holiday season, and i think this stock has a lot of upside due to the increased volume of sales at this time of year. the stock is skul. >> i felt it's too much of a commodity. i don't like stuff that's sold in those particular stores that they're there. i've been recommending the sale of skullcandy, around since 14, 15. the stock did go up to 16, made me look bad momentarily. i stuck by my guns. i still think you should sell skullcandy. fernando in california. fernando? >> caller: [ inaudible ]. >> okie doke. >> caller: coming into the fourth quarter for holiday season with all the names it picked up. >>
ever since the election it has pulled back along with the rest of the market to the point where it's now almost back to where it was before the announcement. it's time to buy, people. bottom line, you want a real cyber monday deal, go buy yourself -- >> buy, buy, buy. >> -- some federal express. robert in illinois. robert? yo, robert? >> caller: praying for the eagles tonight. >> yeah. we need divine intervention. good you pointed that out. what's up? >> caller:...
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Nov 21, 2012
11/12
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i think our elected officials understand that. i think the president understands it. and fortunately, i guess in an odd way the downside is so great they have to come up with a solution? >> how about if they don't? how would it be for your business? >> i think it is going to have an impact on the business only due to uncertainty. but i think there is a lot of positive influences in the consumers' minds right now. the fact that affordability is better. the fact that they feel better about their jobs. the fact this they see job growth happening. certainly here in california we've had job growth. so i think in our world in southern california we're going to be in pretty good shape. but uncertainty is never good. i don't think there should be an option. >> mr. caruso, yesterday craig barrett, former ceo of intel, described california where you live and do a lot of business as america's version of greece because of the level of public expenditure and so forth. do you see it that way? >> no, i don't see it that way. listen, california has its issues. locally we have our iss
i think our elected officials understand that. i think the president understands it. and fortunately, i guess in an odd way the downside is so great they have to come up with a solution? >> how about if they don't? how would it be for your business? >> i think it is going to have an impact on the business only due to uncertainty. but i think there is a lot of positive influences in the consumers' minds right now. the fact that affordability is better. the fact that they feel better...
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Nov 23, 2012
11/12
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what happens before the election? >> well, i think that we have -- what we've before told in terms of the process is that the nebraska department of environmental quality will reach a conclusion by the end of the year, and make a recommendation to the governor assuming he signs off on that. the department of state has said that they will make a decision in first quarter next year. that's the time frame we're working from tay, and at least at this point in time, nobody's made any adjustmes to the schedule. that's what we working towards very hard to make it happen. melissa: so that's after the election you think something happens? >> that's the schedule that we're working on right now, is one that occurs, a decision occurs sometime in the first quarter of 2013, but, obviously, the soon r we get that done, the sooner we can put, you know, the americans that want to get to work on the project back o work. melissa: how many, by the way,? how many jobs would this create? homuch oil would it bring to the u.s.? >> the jobs c
what happens before the election? >> well, i think that we have -- what we've before told in terms of the process is that the nebraska department of environmental quality will reach a conclusion by the end of the year, and make a recommendation to the governor assuming he signs off on that. the department of state has said that they will make a decision in first quarter next year. that's the time frame we're working from tay, and at least at this point in time, nobody's made any adjustmes...
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Nov 29, 2012
11/12
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it's very hard to quantify sandy and the elections overall. macys said we had a record black friday, but it wasn't enough to overcome the effects of sandy. no longer will nordstrom do monthly sales. less than 20% of retailers now report monthly sales. it's really hard to gauge anything based on these retail sales number. you know the whole world was up? europe was up to a new high. boy were the bulls wrong on this. i was part of it unfortunately. in september and october, we were all bullish on china. a big restructuring, nothing's happened. that's why the market is drifting lower, concerns about bank capitalization rates, this calls for big buy backs on the main land. the grandfathers in shanghai who trade in that market are not trading as much, they're not as interested. every list i have seen is cash a percentage of market cap. usually it's about 7% and above. i see ray theon has a really good one. o'reilly automotive was another good one. >> thank you, bob. >> shadow inventory, that's down, copper developing, you can't get the copper. a lo
it's very hard to quantify sandy and the elections overall. macys said we had a record black friday, but it wasn't enough to overcome the effects of sandy. no longer will nordstrom do monthly sales. less than 20% of retailers now report monthly sales. it's really hard to gauge anything based on these retail sales number. you know the whole world was up? europe was up to a new high. boy were the bulls wrong on this. i was part of it unfortunately. in september and october, we were all bullish on...
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Nov 22, 2012
11/12
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the election is over. charles: the election cycle never stops these days. ron paul, i have to tell you that i have learned a lot rom you over the last several years. there is a reason you are a legend. i thank you for taking the time. >> thank you for having me on, charles the one with the economy looking like an ugly doll, a union battle is getting even uglier. we have more coming up next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. charles: when it comes to stuff that you buy online from the majority of people support and online sales tax. jerry joins us. welcome to the show. >> it's a funny how times change. a decade or so and put you out of business. credible market evaluation, we are a little worried about that. >> not at all. toys "r" us.com, we collect sales tax. so do all of them at this company. what the looph
the election is over. charles: the election cycle never stops these days. ron paul, i have to tell you that i have learned a lot rom you over the last several years. there is a reason you are a legend. i thank you for taking the time. >> thank you for having me on, charles the one with the economy looking like an ugly doll, a union battle is getting even uglier. we have more coming up next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the...
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Nov 23, 2012
11/12
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i don'tthink it ends up deciding the election. lots of other things that ended up, but there is no question that having chris christie give president obama that figurative and literal embrace of the national stage a week before the election when he was the keynote speaker at the republican convention was held to the president's. >> and the your out of time. of all was right on the ssue according to the poll and is supported his position. lou: we will take note of two things. your candid one. your former boss plad a big part. we would both agree that governor christie probably should have been telling you know, a conference call to the both of t joins us. don't you love it? a lame duck session of congres they're the ones who have to they're the ones who have to st want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professions who understand the diff
i don'tthink it ends up deciding the election. lots of other things that ended up, but there is no question that having chris christie give president obama that figurative and literal embrace of the national stage a week before the election when he was the keynote speaker at the republican convention was held to the president's. >> and the your out of time. of all was right on the ssue according to the poll and is supported his position. lou: we will take note of two things. your candid...
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Nov 22, 2012
11/12
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i'm sure she doesn't have much to talk about this election year. >> she doesn't hold back, does she? >> no i on a lets you hear it... in your heart. [ basketball bouncing ] heart healthy. great taste. mmm... [ male announcer ] sounds good. it's amazing what soup can do. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? >> welcome back. happy thanksgiving, everybody. we've had an election season full of highs and lows and an honor of thanksgiving, fox news contributor, michelle malkin is counting down her top political turkeys of the year. she joins us from colorado springs. happy thanksgiving, michelle. >> you, too. to all of you, thank you. >> i was surprised, susan rice didn't make the list? erfurt did candiy controlly. number three, who do you got? >> liberal media, which candy controlly is part of. i'm sure that will offend somebody. the performance i think not only of candy, but all of
i'm sure she doesn't have much to talk about this election year. >> she doesn't hold back, does she? >> no i on a lets you hear it... in your heart. [ basketball bouncing ] heart healthy. great taste. mmm... [ male announcer ] sounds good. it's amazing what soup can do. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally...
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Nov 26, 2012
11/12
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in the catolca catalonia win the regional elections. the stock market reacted a little bit, it would have been worse if the leader of the separatist movement had done better. let's move on to what i think is the most interesting story and could definitely affect a lot of investors who watch cnbc, argentina. during all the retail hubaloo, a federal judge in new york ordered argentina to pay nml securities $1.5 billion. he has ordered this many times before. what is different is the remedy. there are two things that investors need to know. if you are invested in an emerging market hedge fund you should be worried about whether or not argentina will pay a gdp warrant december 15th. they very well may not and most indexes when it comes to the emerging markets contain argentinean debt. is it going to be systemic if they don't pay it? no, but you could be affected. the second thing is the remedy that the judge has imposed. this is very interesting. he knows argentina will never pay so now what he said is i don't care if argentina doesn't pay.
in the catolca catalonia win the regional elections. the stock market reacted a little bit, it would have been worse if the leader of the separatist movement had done better. let's move on to what i think is the most interesting story and could definitely affect a lot of investors who watch cnbc, argentina. during all the retail hubaloo, a federal judge in new york ordered argentina to pay nml securities $1.5 billion. he has ordered this many times before. what is different is the remedy. there...
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Nov 21, 2012
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obviously it depends on what you were hoping for in the election and what that mix all looks like. but i'm expecting optimism to fall. and, of course, we'll have no more resolution on taxes or any of those things because it's too soon really to get those done. but, you know, 75% of these small businesses out there are paying their taxes on the personal schedule. they're worrying about that, want to know how to calculate after tax returns on hiring or investment when you don't know what the tax rate's going to be. >> we wish you a happy thanksgiving. >> well, same to all of you. thank you very much. >> see you soon. >>> when we come back, we have a "squawk" tradition. joe has a list of questions ready to go for the butter ball turkey. that's here on "squawk." americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retir
obviously it depends on what you were hoping for in the election and what that mix all looks like. but i'm expecting optimism to fall. and, of course, we'll have no more resolution on taxes or any of those things because it's too soon really to get those done. but, you know, 75% of these small businesses out there are paying their taxes on the personal schedule. they're worrying about that, want to know how to calculate after tax returns on hiring or investment when you don't know what the tax...
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Nov 27, 2012
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presidential election. now we come to the cliff. if we get a deal done, this market needs a catalyst, david. that can be the catalyst forward because buyers frankly are in a wait and see mode and they have been. there's not been a lot of risk to not acting. in fact, the risk har to action. despite the fact that the fundamentals have been for the last couple years the best fundamentals we've ever seen. >> investors reacted positive to deals including today. back to the fiscal cliff. all right. let's say we get a resolution. right away, m&a activity heats up. take me how it will help. >> i think in the first quarter following a deal you will see a resurgence but it won't be dramatic. but that activity will cause buyers to believe there's finally risk to not acting. what we need is a consequence to inaction. that will be deals that will be announced in the quarter following the cliff, which i absolutely believe they will be. we've got deals on the shelf that are waiting for this kind of activity. those deals move into the market. senti
presidential election. now we come to the cliff. if we get a deal done, this market needs a catalyst, david. that can be the catalyst forward because buyers frankly are in a wait and see mode and they have been. there's not been a lot of risk to not acting. in fact, the risk har to action. despite the fact that the fundamentals have been for the last couple years the best fundamentals we've ever seen. >> investors reacted positive to deals including today. back to the fiscal cliff. all...
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Nov 24, 2012
11/12
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honesty and one of the union says elected officials from both parties need to listen to the will of the voters and focus on rebuilding the middle class and strengthening our economy by investing in jobs, not cu. as for the effectiveness of this campai one conservative says this type pressure from unio is nothing new. >> the fact that they are publicly sayinghat they have been privately saying helps the american people understand where obama's in trend and comes from but nothing has changed. >> the issue is in the fiscal cliff discussion democrats appear willing to put entitlements and spending on the table. republicans saying they're willing to do tax revenue and that could be or would be the key to any agreement to avoi the fiscal cliff and get the country's books back in order. gerri: you will be covering this for a long time. thanks for that. this black friday wal-mart shoppers think protests, it is not a superstore workers on the picket line. jeff flock joins us with more. jeff: a few of them but the majority were not wal-mart workers but members of other unions like the teamsters,
honesty and one of the union says elected officials from both parties need to listen to the will of the voters and focus on rebuilding the middle class and strengthening our economy by investing in jobs, not cu. as for the effectiveness of this campai one conservative says this type pressure from unio is nothing new. >> the fact that they are publicly sayinghat they have been privately saying helps the american people understand where obama's in trend and comes from but nothing has...
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Nov 23, 2012
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is such a mess, and it's really too bad that we didn't have more change from the election. so what i'm hoping is that president obama will be more of a president and less of a candidate, because he's the mac daddy candidate, there's no doubt about it. this is the guy who can campaign. but he's not governed. he's not led as president. so i'm very hopeful that the new year would bring that. and i'd also like to see new leadership in the republican party. i think john boehner needs to go. i think it needs to be a kevin mccarthy as well as in the senate. you know, we need new leadership. marco rubio would be a great senate minority leader, and it's bold, but we need the change in washington d.c. heather: but in the meantime, we have what we have right now, we are just a matter of weeks away, so what do you think they need to do, and do you think that president obama will take the lead with dwoarks this time around? -- with negotiations this time around? >> absolutely. and he has started to take the lead. he's met with congressional leaders, the ones that we have, and i don't th
is such a mess, and it's really too bad that we didn't have more change from the election. so what i'm hoping is that president obama will be more of a president and less of a candidate, because he's the mac daddy candidate, there's no doubt about it. this is the guy who can campaign. but he's not governed. he's not led as president. so i'm very hopeful that the new year would bring that. and i'd also like to see new leadership in the republican party. i think john boehner needs to go. i think...
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i would have voted for legalization in both elections like i say i think the damage that we're currently inflicting on young people in the it's this country the damage that's going on in latin america that i don't think that i think kevin is absolutely right this is the beginning of a conversation i very much hope that the united states will look at its drug war overseas and open up that conversation with the latin americans in a very serious way to look at the current policy and the alternatives ok i would have voted for legalization ok how do you react to that kevin because i mean the war on drugs as people call it do you think it's a success i mean we go through a lot of the issues related to the who use that right right you know the only people that use the term war on drugs are not the government anymore frankly. people who want to use that as a rhetorical tool to advance legalization it's not a good analogy we don't have a war on our own people the issue is legalizing marijuana in a few states frankly even if you did it in the united states is not going to stop the criminal cartels
i would have voted for legalization in both elections like i say i think the damage that we're currently inflicting on young people in the it's this country the damage that's going on in latin america that i don't think that i think kevin is absolutely right this is the beginning of a conversation i very much hope that the united states will look at its drug war overseas and open up that conversation with the latin americans in a very serious way to look at the current policy and the...
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Nov 26, 2012
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now that the election is over, we're here with mark. we're going to give all your information later, but if i say your name and company, people are going to know where we are. we're not going to give that. you run a marketing company and a branding firm. how has your business gone now that the election is over and as we head toward the fiscal cliff? >> well, our business has been robust and continues to be robust. so far, it hasn't been impacted at all. we're actually looking forward to a pretty good 2013. >> are your clients saying, hey, mark, i want to give you more business, but i'm worried about this fiscal cliff thing. i'm worried about taxes, worried about the economy. are you hearing that at all? >> well, we haven't heard specifically from our clients. and we handle a lot of global brand brands. but i have heard it from other ceos in the region. they're tapping the brakes and not investing to the degree they would have. >> the big companies would hire you to do branding and marketing for them, but do you have to -- are you planni
now that the election is over, we're here with mark. we're going to give all your information later, but if i say your name and company, people are going to know where we are. we're not going to give that. you run a marketing company and a branding firm. how has your business gone now that the election is over and as we head toward the fiscal cliff? >> well, our business has been robust and continues to be robust. so far, it hasn't been impacted at all. we're actually looking forward to a...
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Nov 28, 2012
11/12
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the argument you hear from many democrats even harry reid today, ying that elections have consequences, and this one americans voted for this. yoyou can. i don't know they voted on more spending. >> there is some truth to what you say. >> a lot. >> all truth. neil: a little. >> we're in the pregehmannal sis, thi -- we in the pregame analysis, does everyone believe we're getting threw this without any spending cuts, of course, not, here is what is going on happen decemr 31 we take steps to resolve some tax issues, it will have a lot to did with how we approach taxes next year, you will seeesome discussion, on cutting some spending but is that going to be carried over? neil: here is what i'm worried about. my point is -- >> you and i will remember this you were not even born. >> 92 neier was i then. neil: you are right. >> he was responsible. neil: idea was, i will raise taxes if you guise come back with spending cuts, he raised taxes, they did notome back with spending cuts. are republicans risking going down the same politically disastrous road. >> we have to cut a lot. there is so muc
the argument you hear from many democrats even harry reid today, ying that elections have consequences, and this one americans voted for this. yoyou can. i don't know they voted on more spending. >> there is some truth to what you say. >> a lot. >> all truth. neil: a little. >> we're in the pregehmannal sis, thi -- we in the pregame analysis, does everyone believe we're getting threw this without any spending cuts, of course, not, here is what is going on happen decemr...
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Nov 25, 2012
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republicans have realized if they don't get latino voters in the coming election they won't have any hope. what we do know the latino voters, immigration reform is number one on the list. >> heather: matt, what do you think? >> i agree with marjorie. i hope the president shows presidential leadership. it will be up to him to move to democrats to actually bring a vote up to in the senate. i believe that john boehner is ready to work with them. address the higher immigration immigrants. we need engineers and doctors in this country. right now our policy is shipping here to be educated and then back home. >> heather: and they did make it clear after the election they were ready to get serious about overhauling the nation's immigration system, republicans, that is, and top priority for hispanics. so is taking up the stems jobs act in the lame duck session a first step in that direction. >> if you remember the great movie what about bob? the way to successfully rehabilitated go yourself was baby steps. what this congress and this president i believe need to do is taking baby steps togethe
republicans have realized if they don't get latino voters in the coming election they won't have any hope. what we do know the latino voters, immigration reform is number one on the list. >> heather: matt, what do you think? >> i agree with marjorie. i hope the president shows presidential leadership. it will be up to him to move to democrats to actually bring a vote up to in the senate. i believe that john boehner is ready to work with them. address the higher immigration...
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Nov 24, 2012
11/12
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. >> i was running for reelection and chrysler was the biggest employer and i got the highest% of election because i suck my principles. the professionals knew that if they got in trouble, they were big enough to make a stink and to go down. neil: but now things have switched. now they have gone from too big to fail. >> up the speech that i gave and i was very unpopular in the mission michigan delegation. i voted against the appropriation. [talking over each other] ronald reagan might get. >> the point was it was a mistake then. not only for chrysler, because we had to bail them out again 25 years ater, how can we have financial markets that have been disciplined where mistakes and errors go unpunished? you can. capitalism doesn't work that way. neil: i agree with you. you bertie concerned me. we had no choice because there was a financial abyss waiting. but if we can stabilize, the whole world would have collapse i've been spending the last 2.5 years writing a book on this very topic that will be coming out next winter. take aig. they had written proper rules, they wouldn't have had these
. >> i was running for reelection and chrysler was the biggest employer and i got the highest% of election because i suck my principles. the professionals knew that if they got in trouble, they were big enough to make a stink and to go down. neil: but now things have switched. now they have gone from too big to fail. >> up the speech that i gave and i was very unpopular in the mission michigan delegation. i voted against the appropriation. [talking over each other] ronald reagan...
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Nov 29, 2012
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there's always talk about the election and the winner of obama but the most important market factor in november wasn't necessarily the win of obama over romney but it assures that ben bernanke will be here for a while. all this talk about the fiscal cliff is peanuts compared to the importance of what is happening in monetary policy. >> that is correct and the fiscal stimulus not so important. ben bernankeemaintaining quantitative easing for prolonged period of time gives investors confidence as opposed to taking the punch bowl away with quantitative easing of the mitt romney as president so when the fed says they will keep interest rates relatively low we are absolutely low and some time in 2013 you have to believe that. liz: the journal says qe 4 is coming. he is coming up in a minute because he got a big scoop yesterday on q e 4. great to have you on the program. the dow 14,000, you are obviously the bull, what would get us there and in what period of time? >> nice to be on with you. i think when we look at the technicals here we are seeing a strong landscape of many individual stock
there's always talk about the election and the winner of obama but the most important market factor in november wasn't necessarily the win of obama over romney but it assures that ben bernanke will be here for a while. all this talk about the fiscal cliff is peanuts compared to the importance of what is happening in monetary policy. >> that is correct and the fiscal stimulus not so important. ben bernankeemaintaining quantitative easing for prolonged period of time gives investors...
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Nov 28, 2012
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we've got a house election in two years -- less than two years. >> although, i don't think this is about electoral politics right now. this is about -- this is about dollars and cents for specific interest groups, constituents, supporters of these politicians and their ideological views. so, look, it's not easy to do. and i believe at the end they'll do it, but this is part of the dance, you know, before it gets super intense. >> and you know what else it is? it's sausage being made and it's ugly to watch. but then -- and then i think about closing loopholes. and name your loophole, and i can give you a two-year argument. mortgage. oh, it's going to kill the housing industry, charity, we can talk for two years, what will it do to charity? >> universities and -- yes. >> you name any sacred cow. that's why it's sacred, it's a sacred cow. >> state and local tax deductions, oh, my god, what's that going to do to new york? >> is it easier to do the cap and that gives you the nebulous, well, we're not hurting anyone -- >> yes. >> would that work? >> yes. i mean, a lot of tax policy experts lik
we've got a house election in two years -- less than two years. >> although, i don't think this is about electoral politics right now. this is about -- this is about dollars and cents for specific interest groups, constituents, supporters of these politicians and their ideological views. so, look, it's not easy to do. and i believe at the end they'll do it, but this is part of the dance, you know, before it gets super intense. >> and you know what else it is? it's sausage being made...
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it's their first meeting since the election. and this his victory speech, obama promised to engage with romney and consider his ideas. >> a lot of people didn't think the lunch would ever happen. >> interesting if he's going to be talking about ideas, mitt romney's idea had been to reach some sort of a cap on it 00 mem deductions. >> he would have just extended the bush tax cuts and then the other stuff would have been -- but if romney had been elected, whether bad long term to extend them, that's one thing, but he would have extended -- this is a weird argument to be having to have everything hinging on on the 2% that are -- suddenly as i've said before, suddenly everybody loves the bush tax cuts. so weird. >> flips the tables on who likes what. >> it all goes back to the line in the band. obama first time around caved and his base never for gave him for extending the bush tax cuts when he said he wouldn't. >> maybe the republicans should be reconsidering the tough line that they drew back in july of 2011 because this is a situ
it's their first meeting since the election. and this his victory speech, obama promised to engage with romney and consider his ideas. >> a lot of people didn't think the lunch would ever happen. >> interesting if he's going to be talking about ideas, mitt romney's idea had been to reach some sort of a cap on it 00 mem deductions. >> he would have just extended the bush tax cuts and then the other stuff would have been -- but if romney had been elected, whether bad long term...